Author Archive for: Alex - Chart Freak
Entries by Alex - Chart Freak
Frustrating
If you have been trading certain Biotech stocks, the markets have been exciting, but if you're watching for a directional move in many other areas? Its been a little boring, maybe a little frustrating. Lets look at the charts...
SPX - Sideways for most of 2015 really. Frustrating for many. Give me a break (out or down please) 🙂
The Health of The Markets
This weekends report will show what the Charts have to say about the health of various markets. Just like any living breathing thing, we can go from healthy to sick , from strong to weak and visa versa. What we will see can change, but this is what I am seeing at this point, based on the charts ...
The DOW JONES INDUSTRIAL AVERAGE - Selling down with a MACD cross, volume picked up on Friday
So lets look at the DJIA WKLY chart...
Chart set ups
I posted a premium report pre-market, this is a portion of it for your trading enjoyment, some editing has been done to update it too 🙂
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Charts - Charts - Charts! It's Friday, the last trading day of the week, so I just wanted to post a few charts instead of the usual full report . Just for 'Friday trading' or building a watch-list. I am not talking about buying and holding for a month, some traders dont even like to hold over the weekend with Greece and other geopolitical issues out there. Buy one or two , or put these on your watch list to possibly buy a pull back . We had reversals yesterday in OIL & Metals , they can be quite trade-able. I bought as mentioned in the chat / comments area, but is it long term or short? Just a quick trade or more? I'll discuss that this weekend. On to the charts ...
$WTIC- small bounce or lows?
What about NATGAS?...
Just Charts
Charts - Charts - Charts! It's Friday and I just wanted to post a few charts that look interesting . I am not talking about buying and holding for a month, some traders dont even like to hold over the weekend with Greece and other geopolitical issues out there. Today I am talking about what look like trade set ups / reversals and so on. Buy one or two , or put these on your watch list to possibly buy a pull back . We had reversals yesterday in OIL & Metals. I liked them because they can be trade-able. I bought as mentioned in the chat / comments area, but is it long term or short? Just a quick trade or more? I'll discuss that this weekend. On to the charts ...
$WTIC- small bounce or lows?
What about NATGAS?...
CRAZY
CRAZY, right? What a difference a day makes. Traders that jumped from Long to Short on Tuesdays drop have likely been burned, and that may or may not change going forward. Lets take a look...
SPX WKLY- I love this. 🙂
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This weekend I showed this weekly chart.
1. Possible top Friday
2.Vix at lows
3. SPX Wedge , so I said to expect a drop.
SPX WKLY - Monday was a holiday, so this is the wkly after Tuesday & Wednesday. The drop & recovery - Boom, Boom.
On a daily - you cant even tell anything happened.
NEXT...
Timing
It certainly looks obvious that various sectors are starting what could be a significant decline. I pointed out the VIX and the elephant in the room last week, indicating that one should be coming, it was just a matter of time. Lets look at the charts ...
In this chart of the VIX I was pointing out that tops (maybe just temporary ones) often started with the Vix in the 12-14 area. It also did a reversal Friday
So this is what has transpired...
There’s A Chance There Is A Change
I was away from my desk Friday and upon returning to the charts on Monday, I am seeing some changes that I want to discuss. Lets start with our regular market review. Lets take several views of the markets, both bullish and bearish, while remember that ELEPHANT IN THE ROOM discussed here last week.
SPX
But we keep this in mind too as we remember that Elephant in the room...
Elephant In The Room
Can we talk about the elephant in the room for a minute? Not the one seen above, I'm actually talking about the one below . Notice how the Trannies sideways move has lost strength & momentum.
IYT- Zoom in and see the break down in the IYT
How can this be in such a strong market. Buy the dip mode is in full force, right?
More Shaking?
I want to review the market moves from yesterday and their possible implications. WIth that I am also keeping in mind the FOMC minutes will be released at 2 p.m. Eastern today. That has the possibility of shaking things up at times.
My SPX thoughts are bullish, as shown in yesterdays chart. The SPX 'paused' yesterday after breaking to new highs.
